BYD sells a record 4.27 million cars in 2024 – 40% more PHEVs sold than EVs, are the tables turning?

By selling 514,809 units crossed the satellite past month, BYD has wrapped up 2024 with worldwide income of 4,272,145 units (+41.3% implicit 2023’s 3,024,417 units). It’s a caller yearly income grounds for the Chinese carmaker and the archetypal clip it’s breached 4 million, Car News China reports.

Here’s the breakdown: 1,764,992 rider battery-electric vehicles (EV), 2,485,378 rider plug-in hybrids (PHEV) and 21,775 commercialized vehicles. That’s 41.5% EV/58.5% PHEV successful 2024 (720k much PHEVs than EVs), compared with 52.1% EV/47.9% PHEV successful 2023 (125k much EVs than PHEVs).

You tin spot the tables person turned rather spectacularly – a effect of Western tariffs connected Chinese EVs, oregon changing user preferences astatine home? Against 2023, BYD’s EV income accrued 12% from 1.6 cardinal units, portion its PHEVs went up an unthinkable 72.8% from 1.4 cardinal units.

What astir exports? December saw 57,154 BYDs find homes extracurricular China, propelling its 2024 full to 417,204 units. That’s astir 72% much than the 242,766 units it exported successful 2023; itself an insane 334% leap implicit 2022.

Cars aside, BYD is the Middle Kingdom’s fig 2 battery supplier, with Tesla, Nio, and Toyota among its customers. The carmaker with the most R&D unit successful the world installed 23.5 GWh of artillery capableness successful December (+32% year-on-year). In 2024, cumulative artillery installations, including successful EVs and stationary vigor storage, deed 194.7 GWh (+29% YoY).

Closer to home, the Chinese elephantine is setting up a works successful Indonesia that is expected to statesman operations successful 2025’s 4th quarter, creating astir 8,700 jobs. The institution volition beryllium 31 years old this year.

The station BYD sells a grounds 4.27 cardinal cars successful 2024 – 40% much PHEVs sold than EVs, are the tables turning? appeared archetypal connected Paul Tan's Automotive News.